JSW Infra shares jump 7% on fundraising buzz; co says no such proposal
The Sajjan Jindal-led JSW Group company has clarified to the exchanges that there is no such proposal for discussion before the board.
The Sajjan Jindal-led JSW Group company has clarified to the exchanges that there is no such proposal for discussion before the board.
The JSW Group firm debuts this year as new ports and facilities add to a growing bottomline.
Sajjan Jindal-led JSW Infrastructure will pay ₹270 crore to buy a majority stake in PNP Port from Shapoorji Pallonji.
JSW Infrastructure will develop an all-weather, deep-water, greenfield port at Keni, Karnataka, which will have an initial capacity of 30 MTPA
The largecap stock, which made its debut on October 3, 2023, rose 10% to touch a fresh all-time high of ₹188.75 on the BSE today.
Post listing, the shares of the ports arm of Sajjan Jindal-led JSW Group gained 28.4% to hit a high of ₹152.8 on the BSE and NSE, while the m-cap rose to ₹31,920 crore.
Tentative listing date of Updater Services is October 9, while JSW Infrastructure is slated to make its debut on the stock exchanges on October 6
The ₹2,800-crore IPO of JSW Infrastructure is going to be Sajjan Jindal-led JSW Group’s first public issue in nearly 13 years, after JSW Energy in 2010.
The O.P. Jindal Group company intends to use IPO proceeds to retire its debt as well as to fund its capacity expansion projects.